Japanese bank signs cooperation agreement with Vinh Phuc province

Japan’s Mizuho Bank has signed a Memorandum of Understanding with the northern province of Vinh Phuc on cooperation in boosting Japanese investment in the locality.

At the signing ceremony - Source: VNA

Under the agreement, which was signed in Vinh Phuc on March 7, the provincial People’s Committee will create all favourable conditions for Mizuho business customers to make investment in the province.

Local authorities will enable the Japanese bank to join investment promotion events to seek partners and promote its products and services.

Meanwhile, Mizuho will send experts to Vinh Phuc to offer advice on financial and banking services to support investors if requested.

The bank will support the provincial People’s Committee in hosting activities to promote investment.

Speaking at the signing ceremony, Vice Chairman of the provincial People’s Committee Vu Viet Van said the province has seen strong socio-economic development in recent years thanks to significant contributions by foreign invested firms, including those from Japan.

As of February 2018, the province counted 278 foreign direct investment (FDI) projects worth over US$ 4 billion from 15 countries and territories. Japan ranked second with 31 projects with registered capital of US$ 816 million and led in business-production efficiency, he noted.

Seiji Imai, a representative from the bank, said Mizuho wants to expand its operation and provide the best services to customers.

In the coming time, the bank will introduce the investment environment in Vietnam and Vinh Phuc in particular to Japanese enterprises as well as provide financial assistance for firms to operate effectively in Vietnam, he added.